CHICAGO--(BUSINESS WIRE)--
Equity Commonwealth (NYSE: EQC) has redeemed in full and at par its $125
million 7.50% Senior Notes due 2019 (“Notes”) on November 17, 2014.
Funding for the entire outstanding balance of these unsecured Notes came
from cash on hand.
“We are pleased to have identified further opportunities to de-lever
EQC’s balance sheet. We are focused on improving our capital structure
and becoming more nimble and financially flexible as we reposition our
portfolio for long-term growth,” commented Adam Markman, Equity
Commonwealth’s Executive Vice President, Chief Financial Officer and
Treasurer.
In addition, EQC prepaid, at par, a $7.8 million 5.99% mortgage loan on
October 31, 2014.
About Equity Commonwealth
Equity Commonwealth (NYSE: EQC) is an internally managed and
self-advised real estate investment trust (REIT). EQC is one of the
largest commercial office REITs in the United States, with a portfolio
of over 40 million square feet located in 30 states, DC and Australia.
Forward-Looking Statements
This press release may contain forward-looking statements and
information within the meaning of the federal securities laws, including
statements regarding our capital structure, financial flexibility and
long-term growth. These statements are based on current expectations,
estimates, projections and assumptions made by management. While Equity
Commonwealth management believes the assumptions underlying its
forward-looking statements are reasonable, such information is
inherently subject to uncertainties and may involve certain risks. Other
risks and uncertainties are described under the heading “Risk Factors”
in our Annual Report on Form 10-K and subsequent periodic reports filed
with the Securities and Exchange Commission (SEC) and available on our
website, www.eqcre.com.
Many of these uncertainties and risks are difficult to predict and
beyond management’s control. Forward-looking statements are not
guarantees of future performance, results or events. Equity Commonwealth
assume no obligation to update or supplement forward-looking statements
that become untrue because of subsequent events.
Equity Commonwealth
Sarah Byrnes, Investor Relations
(312)
646-2801
[email protected]
www.eqcre.com
Source: Equity Commonwealth